Source: Unique Pakistan

The Islamabad Chamber of Commerce and Industry (ICCI) here on Friday stressed the need for enhancing trade between Norway and Pakistan for the benefit of both the countries.
In a meeting with Ambassador of Norway, Ms. Aud Marit Wiig, the ICCI president, Muhammad Ijaz Abbasi said that in 2006-07 the total two-way trade was around $74 million, with balance of trade in favour of Pakistan.

However he said these figures reflect that trade and economic activities between the two countries were not upto the mark as per existing potential.

He said that major items of exports from Pakistan to Norway included fabrics, towels, garments, cotton yarn, textile made-ups, hosiery and sports goods.

He also underlined the need for diversifying the products to increase the existing volume of trade.

Besides, he added, both countries should exchange business delegations, so as to explore the possibilities of the trade and investment in the areas of interest.

He said that the new government was determined to increase the flow of investment in the country adding that business community was hopeful that more growth oriented business polices would be formulated to increase local as well as foreign investment.

He stressed upon the European Union to relax visa policy for businessmen which would encourage them to visit Norway and other European countries for exploring trade opportunities.

Speaking on the occasion, the Ambassador of Norway said that it was encouraging that Pakistani companies were importing plants and machinery from the Norwegian companies, which will help building strong trade and economic links between the two counties.

She said that Telenor has substantial investment in Pakistan in telecom sector and more companies were interested to invest in Pakistan because they consider Pakistan a good destination for investment in many areas.

Ambassador emphasized on the need to build image of Pakistan abroad, so as to attract foreign investment and generate economic activities between the two countries.

The ambassador said that Norway sought transformation of government in Pakistan in a positive manner, which will help strengthen the trade and economic relations between the two countries.

She also accepted the invitation of the ICCI President to visit the chamber office and address the business community. Asad Farid, Director Sales Hotel Crown Plaza was also present in the meeting.

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Tags: Economic Policy, FDI, ICCI, investment, Norway, Trade